In a filing, Alcoa Corp revealed its EVP & CHRO Jones Tammi A unloaded Company’s shares for reported $0.81 million on Mar 13 ’24. In the deal valued at $30.78 per share,26,468 shares were sold. As a result of this transaction, Jones Tammi A now holds 41,166 shares worth roughly $1.24 million.
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Then, Jones Tammi A sold 1,440 shares, generating $44,165 in total proceeds. Upon selling the shares at $30.67, the EVP & CHRO now owns 9,265 shares.
UBS upgraded its Alcoa Corp [AA] rating to a Buy from a a Sell in a research note published on August 12, 2024; the price target was increased to $38 from $32. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in early August from “an Underperform” to “a Peer perform”. Morgan Stanley also remained covering AA and has increased its forecast on June 21, 2024 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Morgan Stanley revised its rating on April 22, 2024. It rated AA as “an Equal-weight” which previously was an “an Underweight”.
Price Performance Review of AA
On Tuesday, Alcoa Corp [NYSE:AA] saw its stock fall -5.86% to $30.22. Over the last five days, the stock has lost -12.56%. Alcoa Corp shares have fallen nearly -11.12% since the year began. Nevertheless, the stocks have risen 0.47% over the past one year. While a 52-week high of $45.48 was reached on 05/30/24, a 52-week low of $23.07 was recorded on 02/26/24. SMA at 50 days reached $34.87, while 200 days put it at $33.22.
Levels Of Support And Resistance For AA Stock
The 24-hour chart illustrates a support level at 29.63, which if violated will result in even more drops to 29.04. On the upside, there is a resistance level at 30.98. A further resistance level may holdings at 31.73. The Relative Strength Index (RSI) on the 14-day chart is 38.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.19%. Stochastics %K at 21.52% indicates the stock is a holding.
How much short interest is there in Alcoa Corp?
A steep rise in short interest was recorded in Alcoa Corp stocks on 2024-08-15, growing by 2.05 million shares to a total of 13.01 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 10.96 million shares. There was a rise of 15.75%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on January 16, 2024 when UBS began covering the stock and recommended ‘”a Sell”‘ rating along with a $29 price target.
